| the north east
FUSION LIFESTYLE’S SPLASH A
leisure charity has got the go-ahead for its £5million redevelopment of
Newcastle’s historic City Pool and Turkish Baths. Fusion Lifestyle secured planning
permission and listed building consent from Newcastle City Council to refurbish the Grade-II listed venue. The baths were closed in April 2013 but
a community campaign drew attention to the building and Fusion Lifestyle saw the opportunity to add the building to is impressive UK portfolio. Fusion Lifestyle was established in
2000 and ploughs all profits from its operations back into the business to provide affordable health and fitness facilities for all through over 90 facilities across the UK. The redevelopment will bring the pool
and Turkish Baths back into operation, as well as seeing the introduction of a new spa, treatment rooms, fitness suite, exercise studios and café. To register for updates visit
NORTH TYNESIDE INDUSTRIAL UNIT C
RT Property Investments Ltd and its asset manager Blue Marble Asset Management (Blue Marble) have let a 37,000
sq.ft industrial unit in North Tyneside. Medical packaging company Nolato Jaycare has signed for a
five year lease on Unit 1, New York Way, North Shields, NE27 0QF. The property was being marketed at a quoting rent of
£170,000 per annum by Newcastle-based industrial agency HTA Real Estate and Cramlington-based MJM Commercial Property Consultants which advised CRT Property Investments Ltd and Blue Marble. Nolato Jaycare was unrepresented. Unit 1, New York Way is a 37,700 sq.ft detached, stand alone,
high quality, modern industrial warehouse unit with two storey offices, a secure fenced yard and 42 car parking spaces. It is located in a thriving commercial area close to Silverlink Retail Park and Cobalt Park and adjacent to the A19. Unit 1 was acquired by CRT Property Investments Ltd in
December 2014, with the assistance of Blue Marble, when it was let to a tenant not in occupation. CRT Property Investments Ltd and Blue Marble agreed a surrender of the lease at a premium and placed the property, the last remaining unit of its size in the area, on the market. Birmingham-based real estate asset management company
Blue Marble will continue to asset manage Unit 1 for CRT Property Investments Ltd. Based in Birmingham’s Colmore Business District, Blue
Marble Asset Management is a real estate asset management specialist which presently has more than £70 million of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices. Its business is based on taking a holistic and strategic view of each of its property investments.
52 COBALT PARK
www.citypool.co.uk or follow the City Pool on Twitter (@CityPoolNCL) and Facebook.
centre, is an amazing success story for the North East says Aidan Baker, Director of Agency at BNP Paribas Real Estate. It is the largest office park in the UK and has recently let more space than any other office park in the country. To date, 1.75 million sq.ft of office space has been constructed and occupied, and when complete Cobalt Park will comprise over 2 million sq.ft. Cobalt Park currently has a workforce
C
of more than 14,000 people which, when compared on a local scale, is the same size of the working population of several large North East market towns. This number is set to grow as the remaining space is let and could grow to 18,000 people. The occupiers at Cobalt Park include
IBM, Det Norske Veritas, Banco Santander, Proctor & Gamble, Hewlett Packard, G4S and North Tyneside Council. Not only have companies chosen to relocate their current employees but also see it as a premier location with excellent communication links for the expansion of their businesses. BNP Paribas Real Estate are joint agents with Bray Fox Smith.
COBALT BUSINESS PARK, NEWCASTLE M
oorfield has purchased Cobalt 23 on the Cobalt Business Park in Newcastle in partnership with Highbridge. The 128,500
sq.ft vacant high quality office building was bought out of receivership. The building has the largest floorplates on Cobalt Business Park
and could be occupied on a single-let basis or sub-divided for multi- let occupancy. Cobalt Business Park is the largest business park in the UK and
the premier office park in the north east. It is currently 90 per cent let and comprises a number of blue-chip occupiers, including Accenture, Hewlett Packard, P&G, IBM, Siemens and Santander. The park was developed as an Enterprise Zone and almost all the other office buildings on the site are fully let. The Newcastle office market has seen improvement in recent
years and the vacancy rate is low; helped by positive net absorption, limited new development and conversions of office buildings to alternative uses. Rents are growing and with a lack of development pipeline the fundamentals are set to remain robust. Cobalt Business Park is set to benefit from substantial
infrastructure investment including c.£75m of road improvements, including the new triple-decker roundabout being added to the A19 and the recent installation of a 25 mile dark fibre network connecting Cobalt business park to Newcastle city centre and improving the park's connectivity. There is also the potential introduction of a Metro station on the park, which has received in principle funding approval. Cobalt Business Park is located five minutes from the A1, 10
minutes from Newcastle city centre and 20 minutes from Newcastle International Airport. Both the city centre and the airport can be accessed by the Metro and the park offers a regular shuttle to the nearest station. Agents for the building are BNP Paribas and Bray Fox Smith.
COMMERCIAL PROPERTY MONTHLY 2017
obalt Park, located in North Tyneside just five miles from Newcastle city
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116
